Do you know someone who is currently applying for a mortgage loan and looking for the lowest mortgage rates? By forwarding this article, you will be doing them a huge favor! Finally a free daily report that offers complete transparency regarding mortgage rates by showing the actual market activity which influences the direction of mortgage rates. All Real Estate Professionals & Consumers are advised to stay informed about interest rates and learn THE TRUTH BEHIND MORTGAGE QUOTES to insure the best financial decisions are being made without the distraction of marketing gimmicks. Whether you're a newbee, market analyst (or somewhere in between), keep yourself informed of where mortgage interest rates are going (and why) by subscribing to this complimentary daily update.
The Mortgage Street Smarts of where mortgage interest rates are going (and why):
The following information is current as of Wednesday 5-30-2012 and will help you understand todays best mortgage rates. If you are a Buyer/Borrower who is still on the fence (or if you are a Real Estate Agent attempting to educate your "on the fence" Buyer), please review these trends and secure an historically low interest rate before it is too late.
The market closed Tuesday with a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Tuesday's WORSENING resulted in a change of 12 basis points (bps).
(hint: upward activity is good, downward activity is bad)
The following chart shows the market activity for today:
The following chart shows market activity over the past 10 days (hint: green is good, red is bad):
The following chart shows market activity over the past 1 month:
Daily Interest Rate Snapshot (sample of rates from one of the country's largest Lenders...individual pricing will vary based on specific Borrower qualifications): NOTE: This Lender has quoted a 1.00% Origination Fee (1 Point) to accompany this pricing. It bears noting that this chart does not necessarily represent todays best mortgage rates.
Analyst: Neil Trenerry
3.0 Coupon: Previous Close 101.656 Open 101.875 Change 0.219
3.5 Coupon: Previous Close 104.359 Open 104.578 Change 0.219
4.0 Coupon: Previous Close 106.109 Open 106.234 Change 0.125
5 Year: Previous Close 99.320 Open 99.477 Change 0.156 Yield 0.732
10 Year: Previous Close 100.156 Open 100.750 Change 0.594 Yield 1.668
30 Year: Previous Close 103.172 Open 104.734 Change 1.547 Yield 2.767
Key Economic Data:
EUR/USD: Previous Close 1.2486 Open 1.2421 Change -0.0066
GBP/USD: Previous Close 1.5633 Open 1.5574 Change -0.0059
USD/JPY: Previous Close 79.520 Open 79.080 Change -0.4400
Gold: Previous Close 1548.70 Open 1548.00 Change 6-0.7
Oil: Previous Close 90.76 Open 89.31 Change -1.45
Key Economic News:
Index: Actual 794.7, Last 804.9. Change: Actual -1.3%, Last 3.8%.
Purchase: Actual 185.6, Last 186.7. Change: Actual -0.6%, Last -3.0%.
Refinance: Actual 4388.8, Last 4456.4. Change: Actual -1.5%, Last 5.6%.
30 year- rate: Actual 3.91%, Last 3.93%.
ICSC chain stores
Week-on-week: Actual -0.5%, Last -1.7%.
Year-on-year: Actual 2.9%, last 3.8%.
Month-on-month: Actual -0.9%, Last -0.9%.
Year-on-year: Actual 3.2%, Last 2.7%.
7:00: Pending homes index for Apr: Last 101.4.
7:30: Dallas Fed Services Reve for May: Last 12.6.
Treasury 10-year note yields fell to a record low as investors sought refuge from the deteriorating credit conditions of European sovereign borrowers. and with little expected on the domestic front, I would expect the market to continue to improve.
My position on MBS stays neutral.
Trusted Industry Advisor
The above information was compiled and distributed by San Diego Residential Mortgage Specialist, Jason E Gordon. As a Certified Mortgage Planning Specialist (CMPS) Certified Distressed Property Expert (CDPE) and Certified Mortgage Coach (CMC), Jason E Gordon utilizes his advanced training to examine a prospective Client's complete financial picture, while carefully listening to their overall goals. If it is mutually agreed that a new loan makes sense to pursue, Jason strives to make the entire loan process as seamless as possible. He truly believes that providing open communication and patient educational guidance to his Clients and Business Alliances has been a pivotal component to building his business, while enhancing his reputation in the Mortgage Industry as a Trusted Advisor. Visit www.jasongordon.net or www.ApprovingSD.com or more information.
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